Morning traders,
On mondays open I plan on opening a middle June to end of June put spread on this asset. Let's dive in.
1) Weekly shows signs of clear exhaustion and indecision, we have a doji print.
2) RSI is exhausted and printing downwards
3) Slowstoch is at the peak and is bearishly crossing
4) VFI has flattened out, likely the high of this move with...

In two amazing trading days this week Qualcom (QCOM) rose 45%, incredible for a large cap stock.
Also incredible is that QCOM appears to have completed a nineteen year Elliott Wave - Horizontal Triangle probably one of the largest examples ever.
Usually after a Horizontal Triangle there is a powerful thrust which can be measured by the widest part of triangle. ...

Overbought currently on RSI and MACD looking like it could cross over soon.
As much as I'd love to see that gap fill from the 14th-15th of April... Upward trend line (in blue) retested on Friday before jumping, BB have cleared way to allow a run up. Ichimoku- Conversion line in blue moving up and away from the base line in red.
Wouldn't be surprised if we see a...

"Those Who Do Not Learn History Are Doomed To Repeat It."
Qualcomm is mimicking the Chart Pattern it took during 1999-2000. QCOM just spiked over 45%, similar to the meteoric rise it experienced during the Dotcom bubble. The correction that Qualcomm is experiencing will reverse quickly after Chinese impose their retaliatory tariffs. (June 1st) So...

QCOM reversed down from a parabolic wedge. The obvious bear target is below the 56 bull spike, making it a poor stop location. The bulls want to keep this gap open and defend the prior low around 49. A two legged correction is likely from the wedge before the bulls and bears will begin to buy again. (Bulls to re-establish longs and bears to take profits). This...

QCOM has had a great run up, but its now over exhausted and has closed under its 9ema and 20sma on the daily chart. I'm looking for it to retrace to $78.5, then fill the gap downward toward $71-72. I jumped into short at $82.25 by buying a couple $82 PUT options

After a less than stellar earnings, which hit the $90 called for in my previous analysis of QCOM, Price action was too mixed at open for it to be good.
-Earnings couldn't change MACD, RSI is still overbought, and looking a lot like consolidation.
-Potential for either a rising wedge or an ascending channel. Both of which tend to break with gravity. I'm loading...